Hong Kong celebrity Chapman To’s NFT project “LateDAO” will have its headquarters on the metaverse completed next month, while the project will issue exclusive tokens at the same time to form a brand-new tokenomics ecosystem.
In February, “LateDAO” purchased a piece of land on Decentraland fuelled by Ethereum blockchain. The “3D Genius Bar Design Competition” was held in April, allowing its NFT owners to pick their favourite design. This headquarters based on the winning design is set to open in June as a permanent gathering place for everyone. Continuing the tradition of high interactivity at the show “Genius Bar” on To’s online porgramme Lateshow, the owners can interact with To and their fellow NFT owners at this headquarters, while they can also participate in different performances and entertainment activities.
In a statement, “LateDAO” said the winning designers took inspiration from To’s life journey. The appearance of the headquarters is derived from the iconic scene “five consecutive hairpin turns” in the celebrated movie Initial D. The upward slope gives rise to a varied space where people can drift, enjoy concerts, and organise parties and gatherings.
“I believe that imagination should be boundless in the metaverse and there should be striking differences between the metaverse and reality. I find the soaring frog avatar on the rooftop utterly impressive as it is structural impossible in the physical world. I also appreciate the spiral car park design as you can drive all the way up with an AE86 and break the rules in the reality,” To said.
The project was announced in February. Celebrities including Anthony Wong, Erica Yuen and Gregory Wong became one of the owners of the NFT. After completing the design of the headquarters, the project will also issue exclusive $LATE Token in parallel to form a brand-new tokenomics ecosystem, and also the recruitment of metaverse girl group members.
According to “LateDAO”, the new tokenomics ecosystem built by “LateDAO” through the $LATE Token provides NFT owners with “continuous value and create liquidity to establish a sustainable business model with a comprehensive ecosystem.” $LATE Token’s supply is unlimited with a burning system to balance out token inflation to ensure the sustainability of the token economy.
In addition, a metaverse girl group will be formed as part of the project. A global audition now opens to all Hong Kong girls for this local girl group. Binding with the aim of decentralisation, the members will be totally elected by the NFT owners and the winners will receive training in Korea.
To added that he will focus on the development of the girl group after its formation as the popularity of the members is already secured by votes.
Lastly, “LateDAO” is set to open an eShop in Q2 this year, offering a wide range of dining experiences. The NFT owners can purchase dining vouchers in the eShop to redeem dining experiences in the physical restaurants. Going forward, the eShop will further diversify its products by cooperating with more local shops in Hong Kong and Taiwan.
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